Indiana Code 32-17-13-4. Beneficiary interests in trusts
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Terms Used In Indiana Code 32-17-13-4
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
Sec. 4. Unless otherwise provided by the trust instrument, interest of beneficiaries in all trusts incurring liabilities under this chapter shall abate as necessary to satisfy the liability as if all of the trust instruments were a single trust.
As added by P.L.165-2002, SEC.11. Amended by P.L.101-2008, SEC.11.